United Kingdom -- The UK is considering building a range of mini-nuclear power plants to solve the impending energy crunch.

Currently, a $24 billion Hinkley plant is on the books to be built and resolve the energy crisis in England; however, the project has been snagged by delays. Now, the UK is considering developing small modular reactors (SMRs). They use existing or new nuclear technology, but it has been scaled down to a small fraction of the size of the average power plant, producing 1/10 the energy of what Hinkley would produce.

The mini plants would have equipment small enough to transport by truck and would only take 6-12 months to build.

"The real promise of SMRs is their modularization. You can assemble them in a factory with an explicable design meaning consistent standards and predictable costs and delivery timescale," said Anurag Gupta, director and global lead for power infrastructure at consultancy KPMG.